In recent years, investors and customers alike have been gung-ho about ESG, so much so that it has found its way into day-to-day commercial lingo. The term ESG stands for Environmental, Social and Governance and refers to three key factors when measuring sustainability and the ethical impact of an investment in a business or company.
Principal Associate in the General Corporate Practice at the Mumbai office of Cyril Amarchand Mangaldas. Aviral advises on a full range of corporate matters, including mergers & acquisitions and private equity. He can be reached at firstname.lastname@example.org
The Securities and Exchange Board of India (SEBI) came out with its consultative paper on “promoter reclassification/ promoter group entities and disclosure of the promoter group entities in the shareholding pattern” to seek public comments on November 23, 2020.
The topic of promoter reclassification has been a talking point since 2015, wherein the power to reclassify promoters laid in the hands of the company, rather than the promoter. Therefore, it was observed by SEBI that the process provided too wide a net to alter the tag of a “promoter”. Hence, in 2018, SEBI revamped the procedure and came out with the now inserted Regulation 31A of Listing Obligations and Disclosure Requirements Regulations, 2015.
Continue Reading RECLASSIFICATION OF PROMOTERS BY SEBI
India is currently facing a declining fertility rate and a changing social structure, with late marriages and single parenthood becoming more common. In light of this, does the proposed ART Bill and Surrogacy Bill restrict or enhance the reproductive choices available to Indian citizens?
Assisted Reproductive Technology (ART), as commonly understood, comprises procedures such as in-vitro fertilisation (IVF), intra-uterine insemination (IUI), oocyte and sperm donation, cryopreservation and includes surrogacy as well. Social stigma of being childless and lengthy adoption processes have increased the demand for ART in India. It is thus not surprising that the ART industry is expected to grow by a compounded annual growth rate of 10%.
No legislation currently regulates ART in India. In 2002, the Indian Council of Medical Research (ICMR) laid out guidelines for surrogacy. Further, in 2005, the ICMR issued the ‘National Guidelines for Accreditation, Supervision and Regulation of ART Clinics in India’ (ICMR Guidelines), which inter alia, prescribed the conditions that ART clinics need to comply with. Both the above initiatives did not have any legislative backing. Thereafter, the Assisted Reproductive Technology Bill (ART Bill) was first proposed in 2008, with the final version being brought out in 2017. The Surrogacy (Regulation) Bill, 2016 (Surrogacy Bill) was passed by the Lok Sabha in December, 2018, and is currently pending Rajya Sabha approval. …
Continue Reading Surrogacy Bill and ART Bill: Boon or Bane?